Match the type of account (a through e) with the business transactions that follow.
-Received payment covering a six-month magazine subscription.
A)Prepaid expense
B)Accrued expense
C)Unearned revenue
D)Accrued revenue
E)None of these choices

Question

Quizplus · Accepted Answer

Unearned revenue, because the payment received represents revenue that has not yet been earned by providing the magazine subscription for the six-month period.

Match the Type of Account (A Through E) with the Business